Con Edison earnings rise 25%, reiterates view

SteveGelsi

NEW YORK (MarketWatch) - Consolidated Edison said Monday its third-quarter earnings rose by 25% as the power generator stuck to its profit target for the year.

Consolidated Edison's
ED, +1.22%
third-quarter earnings rose to $336 million, or $1.22 a share, from $269 million, or 98 cents a share in the year-ago period.

The New York-based electric utility said earnings from continuing operations rose to $1.16 a share from 98 cents a share.

Analysts expected earnings of $1.06 a share, according to a survey by FactSet Research.

Shares of Consolidated Edison rose 0.4% to $40.85 on Monday

"Reliability, energy efficiency, and infrastructure investments remained priorities as the company performed well, and delivered results in line with expectations, during a relatively mild summer," said Kevin Burke, the company's chairman, president and chief executive officer.

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